CoinMarketCap rival CoinGecko acquires NFT startup Zash

Major cryptocurrency tracking website CoinGecko is scaling its information offering by acquiring the nonfungible token (NFT) information infrastructure level Zash.

CoinGecko plans to integrate Zash’s NFT information into its Application Programming Interface (API) by the 2nd 4th of 2024, the steadfast announced connected Nov. 21, though the woody presumption person not been disclosed.

“API users volition beryllium capable to bask a unified crypto information offering, wherever they tin entree fungible and nonfungible token information seamlessly and bask enriched crypto marketplace insights,” CoinGecko co-founder and main operating serviceman Bobby Ong told Cointelegraph.

According to the exec, front-end users of CoinGecko’s web and mobile app volition besides beryllium capable to entree the on-chain NFT information done the NFT level terms tracker adjacent year.

CoinGecko didn’t disclose the outgo of the Zash acquisition to Cointelegraph. Founded successful 2021, Zash operates an enterprise-grade NFT indexer and API, allowing users to way NFT information crossed 87 unsocial marketplaces — oregon a full of 102 marketplaces — similar the large NFT speech OpenSea.

“Zash’s information besides encompasses secondary sales, bundled trades, converts colony successful 12 currencies and encompass ERC-721 and ERC-1155 token standards,” Ong noted, adding that Zash’s sum is “over 4 times much than alternatives.”

Related: Crypto speech Bullish buys 100% involvement successful crypto media tract CoinDesk: Report

CoinGecko’s latest determination into the NFT marketplace comes contempt a significant diminution successful the NFT market, which is sometimes interpreted arsenic a signal the NFT exertion is maturing alternatively than a motion of distress. CoinGecko is bullish connected the NFT manufacture contempt the ongoing marketplace decline, Ong said, stating:

“We clasp the imaginativeness wherever immoderate plus that tin beryllium tokenized, volition beryllium tokenized. We judge that NFTs volition proceed to innovate beyond PFPs, GameFi and unlock caller opportunities and usage cases worldwide. For that reason, we’re optimistic astir the NFT market’s resurgence.”

After Binance acquired CoinGecko’s large competitor, CoinMarketCap, successful 2020, CoinGecko was besides unfastened to acquisitions arsenic of July 2022. However, the steadfast was considering imaginable acquisitions successful the agelong word alternatively than successful the abbreviated term.

“This volition beryllium our 3rd crypto winter, and we are focused connected improving CoinGecko to hole for the eventual bull tally that volition travel again,” CoinGecko’s Ong told Cointelegraph past year.

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